Form 990, Visa, & Advocacy Updates (8/10/2007)

IRS Drafts New Form 990

The IRS is planning a major overhaul of the Form 990,
with an aim toward enhancing transparency, promoting tax compliance,
and minimizing the burden on filing organizations. While some changes
to the Form reflect requests from the nonprofit community, several
revisions raise questions and concerns. The proposed revisions to the
Form would change the way orchestras and other tax-exempt organizations
annually report executive compensation, governance practices, finances,
and other areas of activity. The IRS is also reconsidering the
thresholds for requiring organizations to file. Under the current rules,
organizations with revenue of $100,000 or more must file the full Form
990, organizations with $25,000 or more in revenue must file the Form
990-EZ, and while organizations with less than $25,000 in revenue are
not currently required to annually report to the IRS, as of 2008 these
organizations must file the Form 990-N
e-postcard, or risk losing their tax-exempt status. The IRS is
considering increasing the threshold for those that may file the Form
990-N, which would likely relieve smaller organizations of the burden
of filing the more complicated Form 990-EZ.

The timing for implementing a
revised Form 990 is uncertain. While the IRS plans for the new Form to
be used for returns filed in 2009, the nonprofit community is
requesting more lead time to make the transition to the new reporting
requirements. The League is collaborating with the broader nonprofit
community and Independent Sector as the IRS invites comments regarding
the new Form.

U.S Mayors Name Policy Priorities

At the summer meeting of the U.S. Conference of Mayors,
local policy leaders adopted a series of resolutions that declare their
priorities and positions on issues ranging from climate protection to
homeland security. The slate of resolutions
approved by the Mayors includes a number of policies in alignment with
the interests of the arts sector. Mayors collectively call for
improving the U.S. visa process, increasing funding for the National
Endowment for the Arts, and making arts education available to all
students. Understanding the local priorities of civic leaders can open
the door to new opportunities for support for orchestras. Read the
article "Are You Listening?" in the June/July issue of SYMPHONY Magazine to learn more about becoming civically engaged.

Reminder: Visa Fees Increased!

Effective July 30, the filing fees for visas petitions for foreign
guest artists have increased. To avoid delays in processing, please
note the fee changes and plan accordingly! Complete information about
the new fee structure is available on the Artists from Abroad web site.
The League continues to work in partnership with the national
nonprofit performing arts community to improve the visa process for
foreign guest artists. Please contact the League with any visa-related
questions and keep us informed of your experiences in navigating the
visa process.

Please direct any related questions to Heather Noonan, Vice
President for Advocacy, This email address is being protected from spambots. You need JavaScript enabled to view it.
or Najean Lee,
Government Affairs & Education Advocacy Manager,
This email address is being protected from spambots. You need JavaScript enabled to view it.
.

The League is a member of the American Arts Alliance,
a coalition of national performing arts service organizations dedicated
to advocating for national policies that recognize, enhance, and foster
the contributions the performing arts make to America.